Real Estate

Ottawa and Surrounding Area Real Estate market discussion

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  • Mar 27th, 2024 9:53 pm
Sr. Member
Jan 29, 2020
526 posts
496 upvotes
Look, I did two test commutes and although I'm not a civil guy I'll tell you for nothing that Greenbank was never designed in anticipation of that amount of commuter traffic. I read many news articles about residents in revolt against the city council because the Barrhaven developers are being allowed to put up endless housing on 30 foot wide lots, and it is getting worse every year. That place was never designed/engineered/planned, it was supposed to be a racetrack and the developer couldn't make it work, so he put up housing instead. It is a textbook example of poor urban planning.

I visited a few townhomes for sale there from two builders, and put an inclinometer on the walls. There was not a single 90 degree angle in these units, everything up to 5 degrees out of square. It is not high quality housing from my perspective.

As far as I can tell, the whole urban planning concept in Ottawa has failed. The greenbelt was supposed to concentrate development. What has happened is endless sprawl with people commuting 2 hours a day. It did not really work for anybody. I would not be surprised if Ottawa performed near the bottom of similar population centres in terms of passenger vehicle emissions. If they had done it right, they would not have to debt-finance 20 kilometre rail alignments to bedroom communities And I think those projects are in a lot of jeopardy now, may not be built at all.
Deal Addict
May 23, 2017
1358 posts
1343 upvotes
Where are the mods...this thread (which has been mostly very informative with lots of great discussion) is being derailed recently by one person's totally subjective bashing of Ottawa suburbs, especially one in particular (along with his excessive and unnecessary details about his engineering work experience, which frankly is mostly completely irrelevant to Ottawa real estate aside from a few comments on the WFH debate).

Ottawa is not the only city with tons of urban sprawl and far-flung suburbs with imperfect planning and poor transit that plenty of families nonetheless love to flock to. No it's not ideal (far from it), but that's what tends to happen with rapid population growth.

At least provide some more objective evidence on why Barrhaven is a "shithole" if that's the point you want to keep driving home. The reality though is that it's a safe, family-oriented neighbourhood with high incomes and great schools, and it is highly popular/desirable (it's been the fastest-growing area in Ottawa the last few years for a reason). It's true that more infrastructure needs to be built to support this rapid growth but that doesn't make it a "shithole". Since we are in the real estate forum I might add that property values in this area have done incredibly well over the last few years as well...
Deal Addict
Nov 6, 2007
1938 posts
2321 upvotes
jk9088 wrote: Where are the mods...this thread (which has been mostly very informative with lots of great discussion) is being derailed recently by one person's totally subjective bashing of Ottawa suburbs, especially one in particular (along with his excessive and unnecessary details about his engineering work experience, which frankly is mostly completely irrelevant to Ottawa real estate aside from a few comments on the WFH debate).

Ottawa is not the only city with tons of urban sprawl and far-flung suburbs with imperfect planning and poor transit that plenty of families nonetheless love to flock to. No it's not ideal (far from it), but that's what tends to happen with rapid population growth.

At least provide some more objective evidence on why Barrhaven is a "shithole" if that's the point you want to keep driving home. The reality though is that it's a safe, family-oriented neighbourhood with high incomes and great schools, and it is highly popular/desirable (it's been the fastest-growing area in Ottawa the last few years for a reason). It's true that more infrastructure needs to be built to support this rapid growth but that doesn't make it a "shithole". Since we are in the real estate forum I might add that property values in this area have done incredibly well over the last few years as well...
Ya it’s getting real annoying. The self rigorous, know it all, market is gonna crash, you are all fools attitude.

Reminds me of that Mark777 self proclaimed engineer, doomsday sayer who got banned years back. (For those that have been on the forums that long)

Ohh wait ...

In other actual real estate related news, appears market is picking up again with the warmer weather. New listing, holding back on offers and multiply offers on attractive listings. Anyone noticing this trend in the last 2 weeks?
Deal Addict
Nov 26, 2004
4460 posts
4122 upvotes
R8247 wrote: Ya it’s getting real annoying. The self rigorous, know it all, market is gonna crash, you are all fools attitude.

Reminds me of that Mark777 self proclaimed engineer, doomsday sayer who got banned years back. (For those that have been on the forums that long)

Ohh wait ...

In other actual real estate related news, appears market is picking up again with the warmer weather. New listing, holding back on offers and multiply offers on attractive listings. Anyone noticing this trend in the last 2 weeks?
And browsing the mortgage thread, I noticed another bearish (the same?) poster just bought.

official-mortgage-rates-thread-351105/4017/#p32600438
AjayA2050 wrote: Hello, Looking for rates for this situation:

Mortgage: $420,000
Purchase price: $468,000
City: Ottawa ON
Owner occupied
Purchase date: July 28th, 2020

Excellent Credit score, First Time Home Buyer.

I am looking for Floating Interest rate? What could be the best I can get for my situation.
A vote of confidence for the real estate market in Ottawa?
Sr. Member
Jan 29, 2020
526 posts
496 upvotes
Clear that the speculators are upset and lashing out in pretty bizarre ways. Don't worry, it will all be over soon.

I'll just say that I supervise people in what the government calls the "regions" and they have asked for years why they have to move to Ottawa to advance. French requirement shuts a lot of good people out. If the government decides the work can be done effectively outside of the NCR, watch out if you are a speculator.
Member
Jun 7, 2010
317 posts
97 upvotes
sdutta6 wrote: Hi everyone,

My wife and I are looking for recommendations for a real estate agent and broker. We are looking to buy a single-family detached home, 3-4 bedrooms. Our budget is about 650k, though we would expect a broker to give us some realistic advice on what type of mortgage is obtainable for us based on our situation. This will be our principal residence rather then an investment property. We are thinking of Riverside south or Barrhaven areas (we are open to other areas as well) due to a combination of price (we have seen some nice homes listed around the 500-550k range, though not sure what the final selling price is) and really only needing to go downtown on the weekends for leisure and Quebec for skiing (when such activities are allowed again).

PM's are most welcome. Thanks!
Highly recommend @ https://www.hewie.com/.

Used Don for multiple purchases and nothing but pleasant to work with. Sharing 50% of the earned commission always helps! PM me if you have any questions.
Deal Guru
User avatar
Jun 28, 2003
12181 posts
5650 upvotes
Ottawa
William W wrote: And browsing the mortgage thread, I noticed another bearish (the same?) poster just bought.

official-mortgage-rates-thread-351105/4017/#p32600438


A vote of confidence for the real estate market in Ottawa?
I am seeing more listings on the portal now Will, as the various levels of government are relaxing the lockdown rules and the home buyers/sellers are more open to conducting business.

Will be interesting to see what follows CERB as it is due to run its course in 2 months. Again, many people in this City is still gainfully employed so the impact may not be as much as other cities.
Deal Addict
Nov 6, 2007
1938 posts
2321 upvotes
Cashforlife wrote: Clear that the speculators are upset and lashing out in pretty bizarre ways. Don't worry, it will all be over soon.

I'll just say that I supervise people in what the government calls the "regions" and they have asked for years why they have to move to Ottawa to advance. French requirement shuts a lot of good people out. If the government decides the work can be done effectively outside of the NCR, watch out if you are a speculator.
Very bizarre how you need to lash out at the francophones and language requirements of the public service in a real estate tread.

Sounds like someone is real upset it took them 20+ years to reach EX minus one. Are we suppose to care about your self proclaimed importance in the Public Service and the fact that you report to a Director (which are a dim a dozen in the NCR and more common then a CR-04 in the Regions)?
Last edited by Redmask on May 27th, 2020 8:15 am, edited 1 time in total.
Reason: Removed personal attack from post.
Deal Addict
Nov 6, 2007
1938 posts
2321 upvotes
canabiz wrote: I am seeing more listings on the portal now Will, as the various levels of government are relaxing the lockdown rules and the home buyers/sellers are more open to conducting business.

Will be interesting to see what follows CERB as it is due to run its course in 2 months. Again, many people in this City is still gainfully employed so the impact may not be as much as other cities.
Thanks for your observations. I'm noticing the same trends. More listings, holding back on offers and the attractive listings are selling firm within days.

My thoughts are the pent up demand is still there from pre COVID. There maybe a lost in overall confidence. However the public service along with the tech sector is still gainfully employed. Most of these house holds are actually saving more money during COVID with lack travel, vacations, parking ND eating out.
Deal Addict
Nov 26, 2004
4460 posts
4122 upvotes
canabiz wrote: I am seeing more listings on the portal now Will, as the various levels of government are relaxing the lockdown rules and the home buyers/sellers are more open to conducting business.

Will be interesting to see what follows CERB as it is due to run its course in 2 months. Again, many people in this City is still gainfully employed so the impact may not be as much as other cities.
Unlike pre-covid where the Towns and the 30' singles sold out during the first weekend, I think the recent sales trend at the Minto Arcadia indicate the market is owner occupants driven rather than investor driven. After all, I don't think investors will have much interested at the price point of what the 43' lots are selling for. I think the Ottawa market is still very healthy.

If there is no second wave lock down, I think it will be a busy fall. After all, those who are hurting now, ie Restaurant owners, dental offices, hair salon owners, etc will be back to business as usual. I expect there will be some "catch up / revenge spending" after the lockdown is lifted.
Deal Fanatic
Jul 4, 2004
7429 posts
4675 upvotes
Ottawa
michelb wrote: This weeks numbers:


New Listing (366)
Back On Market (48)
Price Decrease (76)
Price Increase (32)
Conditional Sale (299)
Sold (378)
Expired (33)
Leased (0)
Cancelled (60)
Rented (67)
Suspended (15)

Still quite heavily balanced to the sellers (roughly 850 going off the market vs 415 going on the market)

And this graph shows volume and prices rising again this week.
OREB graph : https://content.oreb.ca/matrix/stats/index.html
This week's numbers:


New Listing (458)
Back On Market (31)
Price Decrease (87)
Price Increase (14)
Conditional Sale (336)
Sold (440)
Expired (22)
Leased (0)
Cancelled (67)
Rented (52)
Suspended (9)

Still favors sellers (around 900 going off market vs 490 coming on)

And this graph shows volume and prices rising again this week.
OREB graph : https://content.oreb.ca/matrix/stats/index.html

Prices are back to around what they were around mid-Feb but still a bit off the peak around the start of March.
Deal Fanatic
Jul 4, 2004
7429 posts
4675 upvotes
Ottawa
William W wrote: Unlike pre-covid where the Towns and the 30' singles sold out during the first weekend, I think the recent sales trend at the Minto Arcadia indicate the market is owner occupants driven rather than investor driven. After all, I don't think investors will have much interested at the price point of what the 43' lots are selling for. I think the Ottawa market is still very healthy.

If there is no second wave lock down, I think it will be a busy fall. After all, those who are hurting now, ie Restaurant owners, dental offices, hair salon owners, etc will be back to business as usual. I expect there will be some "catch up / revenge spending" after the lockdown is lifted.
I think that's possibly too optimistic and the big unknown. Personally, I think a bunch of those will be going through bankruptcy by then. (FWIW, my buddy is a business lawyer working mostly with small companies and last time I spoke to him, I felt that 1/2 his clients would go under before COVID is over (he's worried for his clients and for himself since if they go under, he likely doesn't get paid!))

Because of that, I think it's really hard to predict what will happen 6 months from now. It could be back to business as usual but it could just as well be the biggest recession for generations.
Deal Addict
Nov 26, 2004
4460 posts
4122 upvotes
michelb wrote: I think that's possibly too optimistic and the big unknown. Personally, I think a bunch of those will be going through bankruptcy by then. (FWIW, my buddy is a business lawyer working mostly with small companies and last time I spoke to him, I felt that 1/2 his clients would go under before COVID is over (he's worried for his clients and for himself since if they go under, he likely doesn't get paid!))

Because of that, I think it's really hard to predict what will happen 6 months from now. It could be back to business as usual but it could just as well be the biggest recession for generations.
Yes, it will be a case of survival of the fittest. Though, I know I will be rebooking my cancelled dental appointments, getting a proper hair cut as well as going out to restaurants once these business are allowed to reopen. The # of suppliers may go down, but I feel the demand for their services will still be there. Don't get me wrong, I do feel sorry for the business owners who get caught in this, but at the end of the day, if the demand is still there, most employees will still be rehired albeit maybe working for new owners.
Newbie
Oct 16, 2017
52 posts
47 upvotes
deadsea wrote: Highly recommend @ https://www.hewie.com/.

Used Don for multiple purchases and nothing but pleasant to work with. Sharing 50% of the earned commission always helps! PM me if you have any questions.
Great, thanks a lot will check it out and PM if any questions!
Deal Addict
Sep 2, 2009
2978 posts
3020 upvotes
Ottawa
R8247 wrote: Thanks for your observations. I'm noticing the same trends. More listings, holding back on offers and the attractive listings are selling firm within days.

My thoughts are the pent up demand is still there from pre COVID. There maybe a lost in overall confidence. However the public service along with the tech sector is still gainfully employed. Most of these house holds are actually saving more money during COVID with lack travel, vacations, parking ND eating out.
Plus daycare savings for some
Sr. Member
May 6, 2012
863 posts
649 upvotes
KANATA
cloak wrote: Plus daycare savings for some
I rather pay that money for a more proper diaper training :)
Member
Oct 21, 2007
478 posts
656 upvotes
We're looking for a place around downtown. It felt like there was finally a bunch of listings hitting the market this weekend, and a larger rush of buyers for those listings. It feels like we're back to peak real estate. I suspect people are itching to get out there to shop - including for houses. Lots of sellers have been holding back (according to my realtor) and may be listing now.

In the medium term - September should be interesting. With mortgage deferrals ending and school set to resume (or not). If the universities attempt to restart in a remote manner, I can't see how that wouldn't have a huge impact on downtown rental market(and by extension the sale market). There's also the risk of a second wave later in the year. On the other hand, if things re-open, and we're full steam ahead, it may be nothing.

For the longer term outlook - with the WFH home movement gaining steam (it's about time!), and fewer people probably moving around, I can't see how it won't impact the Ottawa housing market. It will mean fewer people moving here for both tech and government. We've gone through a big local hiring spree in both, that I can't see that continuing (at least not locally). I guess in Ottawa's favour, it's a very suburban family oriented city (albeit badly sprawled out), with lots of great outdoor things to do. As long as you're not looking for the big city amenities (ie Toronto, Montreal) and don't mind driving everywhere, it's a good place to live. Though, as I type this, I can't help but think you can get many of those things for cheaper elsewhere... If suburban family living is the main draw, and not employment, that's not a big draw.

Anyway, we're taking our time.
Deal Addict
Sep 2, 2009
2978 posts
3020 upvotes
Ottawa
welcomelm wrote: I rather pay that money for a more proper diaper training :)
If only it were currently a choice ;)
Jr. Member
Mar 7, 2011
102 posts
36 upvotes
Ottawa
michelb wrote: I think that's possibly too optimistic and the big unknown. Personally, I think a bunch of those will be going through bankruptcy by then. (FWIW, my buddy is a business lawyer working mostly with small companies and last time I spoke to him, I felt that 1/2 his clients would go under before COVID is over (he's worried for his clients and for himself since if they go under, he likely doesn't get paid!))

Because of that, I think it's really hard to predict what will happen 6 months from now. It could be back to business as usual but it could just as well be the biggest recession for generations.
I agree, it's a ripple effect. Say optimistically half of the service sector resumes to normal and reopens. That's half the tax base there (business and employees). Then there's suppliers and services catering to these businesses = lower revenues = lower incomes. Governments (federal/provincial/municipal) will have to deal with lower tax revenues. Which could mean program cuts or employment cuts/freezes. Poof there's the demand for home prices that were skyrocketing. Albeit most likely to occur in 2021 and beyond. Less people moving here. Tech sector cannot solely carry the city's recovery, and a lot of 'tech' is based on govt tech contracts.

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